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Author Question: If penalties are imposed on the sellers of illegal goods or services, then the equilibrium price ... (Read 66 times)

dbose

  • Hero Member
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  • Posts: 597
on: Jun 29, 2018
If penalties are imposed on the sellers of illegal goods or services, then the equilibrium price ________ and the equilibrium quantity ________.
 
  A) rises; increases
  B) rises; decreases
  C) falls; increases
  D) falls; decreases

Question 2

Which of the following games provides the best way to model price wars?
 
  A) a repeated duopoly game
  B) a game of chicken
  C) a sequential entry game in a noncontestable market
  D) a sequential entry game in a contestable market


Ksanderson1296

  • Sr. Member
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Reply #1 on: Jun 29, 2018
Answer to Question 1

B

Answer to Question 2

A


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